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Molten

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Molten last won the day on November 22

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  1. I think now is a good time to take a break from watching the price. I am not looking for a big bounce anytime soon and I am finding the constant price checking to make it more difficult to stay within my investment plan, which is to hold for 5 years from my initial purchase price. By that point (2022-2023), XRP will most likely either be valueless or have appreciated quite significantly. Watching the oscillations until that point serves no real purpose as a non-trader. Part of my purpose in teaching myself TA was to identify good potential exit points, but we are currently nowhere near a price that would necessitate an exit plan. So, I think I am going to check out of the forum for a while. I will be hodling all the way and I may check in from time to time to see how everyone is doing, but I want to distance myself from the day to day price action. Thanks to everyone who has contributed (positively) to this thread. I hope when I return every so often that the thread is still alive and humming, along with the other magnificent contributions from this community. Best to everyone and good luck to all.
  2. Something afoot with alts in general, pretty sure this is not VET specific. Check out the chart for MATIC.
  3. We might be forming an inverse head and shoulders pattern within the confines of the ascending triangle. This would actually be consistent with what I have been expecting, which is a short term dip followed by an upward rise out of the ascending triangle. This should all occur before Christmas. Watching to see if the pattern is validated on this dip.
  4. VETUSD in a pretty solid symmetrical triangle set to break in 2 days. I expect that it will break upwards as a continuation of the ongoing bullish trend.
  5. This is what I am watching. The large macro pattern of the broadening wedge is the most important IMHO. If correct, we should ultimately end up with a rather large upward price move, but not for a while yet. We need to hold the lower trend line. Within that, on the shorter term, we may be in an ascending triangle. If this is correct, then we will probably dip down to touch the lower trend line at around $0.21 and then eventually break out to test the resistance around $0.26.
  6. I also use SPXU to short. Agree about trump trying to pump the market but i am also expecting rocky roads with the china deal, which seems to rattle the market. That, combined wth the overwhelmingly overbought technicals, this seemed like a no brainer. We shall see.
  7. Not to pile on, but look at the volume on the daily chart for the last 3 green candles. Volume should be rising with rising prices, not falling. This is another bearish indicator. Part of it is likely just attributable to the weekend, so if we can hold here and pick up some volume tonight or tomorrow then we could keep marching up, but right now we look set to fall a bit.
  8. Ugh. We are rising but on very low volume. Worse, though, is that we have settled into a very clear rising wedge on the shorter term charts. This is bearish and likely will result in a fall back down to $0.21ish in the near term unless we can break out of the formation with some volume.
  9. I actually just opened a small short position on the S&P because it has extended into severely overbought territory. The vast majority of my portfolio is still allocated in stocks and bonds, so this was just more of a "for fun" move because the technicals seemed pretty obvious. My horizon is about 15-20 years off, so in the long run I don't really care much what happens right now.
  10. Yes!! The smart thing to do right now is to short this bottom, that's what the smart people like @googo and CryptHawk do!
  11. I had already ignored so I didn't see that post.... "worst technical trader ever".... that's going in the ol' trophy case!
  12. Agree. I don't diversify much and hold only XRP and VET because they both have legitimate use cases that make sense to my dull brain. I might buy BTC at the right price because I do believe in the use case as a digital store of value to replace gold, especially as the millenials come into their own financially. As soon as the Boomers finally capitulate and release their death grip on all things valuable.... so probably another 30 years or so lol.
  13. Man... I hope you're right on that one. I'm looking to see if we can reclaim one penny first
  14. Just to expound on why I believe this to be a true double bottom... look at the volume on the two troughs. The first is much higher than the second. This is a classic indicator of selling exhaustion. Then you see a higher volume green candle immediately following the second selling trough candle, much higher volume than the corresponding green candle after the first dump = more buying pressure. Time will tell as always, but I believe that we witnessed a local bottom there. A lot more work to do before anyone could reasonably suggest that this was the global bottom of this massive bear market, but I think the price goes up from here. I do foresee an instance in which we grind back up to the resistance area between $0.28-$0.30 and get rejected back to the bottom of the trend line, possibly chopping into the support zone of $0.18-$0.19, maybe even wick very briefly below, but I would think that that would be the last touch of the bottom trend line of the broadening wedge and then up for good from there.
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